Verizon Communications sold a record $ 49 billion worth of bonds on Wednesday to finance its $ 130 billion buyout of Verizon Wireless from partner Vodafone, The Wall Street Journal reported.
The report said that offers for the bonds reached around $ 100 billion with strong demand from around the world for the bonds, which carried a yield of 6.559 per cent interest for the 30-year maturity date.
Previously the record US bond offering was Apple’s issue of $ 17 billion in debt in April.
Verizon owns 55 per cent of Verizon Wireless, the largest US mobile carrier. Earlier this month it agreed to buy the remaining 45 per cent from British-based Vodafone for $ 58.9 billion in cash, $ 60.2 billion worth of Verizon shares, $ 5 billion in loan notes and other considerations.
The money raised by the mammoth bond offering will be used to pay for the cash portion of the deal.